Millennium Management LLC Sells 426,560 Shares of Hanesbrands Inc. (NYSE:HBI)

Millennium Management LLC trimmed its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 23.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,371,723 shares of the textile maker’s stock after selling 426,560 shares during the quarter. Millennium Management LLC owned about 0.39% of Hanesbrands worth $6,763,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concord Wealth Partners boosted its position in shares of Hanesbrands by 220.3% in the first quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock valued at $31,000 after acquiring an additional 3,618 shares during the period. Tradewinds Capital Management LLC acquired a new position in Hanesbrands in the first quarter valued at about $35,000. Rothschild Investment LLC acquired a new position in Hanesbrands in the second quarter valued at about $39,000. Hollencrest Capital Management acquired a new position in Hanesbrands in the first quarter valued at about $41,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Hanesbrands in the first quarter valued at about $44,000. 80.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group boosted their price target on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday, August 27th. Stifel Nicolaus boosted their target price on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, Barclays boosted their target price on Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.80.

Hanesbrands Stock Down 0.2 %

Shares of NYSE HBI opened at $7.33 on Friday. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -122.08 and a beta of 1.58. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06. The stock has a 50-day moving average price of $6.50 and a two-hundred day moving average price of $5.55. Hanesbrands Inc. has a 12 month low of $3.58 and a 12 month high of $7.44.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $995.40 million for the quarter, compared to analysts’ expectations of $1.35 billion. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) earnings per share. As a group, analysts forecast that Hanesbrands Inc. will post 0.35 earnings per share for the current fiscal year.

Hanesbrands Profile

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.